An engineer has a fluctuating future budget for the maintenance of a particular machine. During each of the first 5 years, $10,0
00 per year will be budgeted. During the second 5 years, the annual budget will be $15,000 per year. In addition, $5000 will be budgeted for an overhaul of the machine at the end of the fourth year, and again at the end of the eighth year. What uniform annual expenditure would be equivalent, if interest is 8% per year?
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